300,000 families have no bank account

MORE than 300,000 households do not have a bank account, with 750,000 families unable to save on a regular basis, according to a report by a Government-backed think-tank.

The study by the Economic and Social Research Institute also shows 465,000 households don’t have access to many basic financial services such as credit cards, overdraft facilities and other loans.

The report, which examines the rising level of financial exclusion and over-indebtedness in the Republic, revealed that 5.4% of households — an estimated 81,000 families — are persistently unable to meet essential living expenses and debt repayments.